Interserve improves investor stake in rescue deal as losses narrow to £111m February 27, 2019 Interserve shares fell 14 per cent this morning as it updated its rescue refinancing deal to hand more control to shareholders, as well as confirming 2018 losses of £111m. The troubled outsourcer will hope the concessions are enough to change the minds of directors at its rebellious lead shareholder, US hedge fund Coltrane Asset Management, [...]
If you’re stuck on which tax-efficient investment scheme to go for, let’s weigh up your options February 27, 2019 At first glance, venture capital trusts (VCTs) and enterprise investment scheme (EIS) funds seem like peas in a pod. They are both government-backed tax wrappers, and they both let you invest in risky young companies. They also come with the same 30 per cent income tax perk, meaning that if you invested £10,000, you would [...]
Metro Bank shares plummet a further 20 per cent after dramatic £350m cash call February 27, 2019 Metro Bank shares have continued to plunge this morning after its dramatic results release and revelations of a regulator probe. The challenger bank rushed out its full year results last night in a bid to ease concerns after announcing a plan to tap up investors for a further £350m following an accounting error last month. [...]
The EIS evolution: How will incoming changes affect investors? February 27, 2019 The enterprise investment scheme, or the EIS, is a shape-shifter. Unveiled by the government back in 1993, the scheme was designed to help small, promising companies access finance by offering generous tax breaks to investors (you can claim income tax relief of 30 per cent when you buy shares in EIS-eligible companies). The EIS has [...]
Marks & Spencer investors suffer dividend blow as retailer nets food delivery service in £750m Ocado venture February 27, 2019 Shareholders hammered Marks & Spencer’s shares this morning as it became clear the retailer plans to hit up investors to fund a £750m food delivery venture with Ocado. M&S’s stock dropped 9.2 per cent to 303p as it confirmed plans to raise £600m through a rights issue as well as knocking down shareholders’ dividend. The [...]
Why you should blame personality tests for the psycho in your office February 27, 2019 Most of us have, at some point, encountered a Myers-Briggs personality test. Katherine Cook Briggs began her personality research over a century ago after an awkward dinner party, which just goes to show the lengths that some people will go to avoid small talk. Of course, personality tests can be useful, but the corporate world [...]
SSE pays out £705,000 to regulator Ofgem after misreporting £4m renewable energy payments February 27, 2019 Troubled energy supplier SSE has paid £705,000 to regulator Ofgem after it received £4.07m more than it was owed under the renewable energy scheme. The company overstated payments in its Feed-in Tariff (FIT) submissions to low carbon generators because of an administrative error, the company said, causing it to receive the extra cash. Read more: [...]
Britain lost faith in its politicians – and then it voted for Brexit February 27, 2019 What do Bill Clinton, the Beano, and moat cleaning have in common? Answer: they all contributed to Brexit. We are about to reach the tenth anniversary of the MPs’ expenses scandal, the fifteenth anniversary of the launch of the TaxPayers’ Alliance (which I co-founded in 2004), and in 30 days’ time we should be leaving [...]
Under-fire Ted Baker issues profit warning as shares plunge February 27, 2019 Ted Baker warned investors of a £10m hit to profits for its full year this morning, blaming a series of unexpected blows to its bottom line. Profit before tax for the year to the end of January is now expected to fall in the region of £63m, sending shares crashing 13 per cent to 1,734p. [...]
It makes smart business sense to invest in the future of refugees February 27, 2019 Amid scenes of refugees’ flight from Venezuela, it is easy to forget that the world’s largest refugee crisis remains Syria. And that’s why the UK-Jordan Conference in London tomorrow is so important. Jordan has generously provided refuge for more than 670,000 Syrian refugees fleeing their homes amid a brutal war. Its role in the stability [...]